To save money, retailers are increasingly adopting a strategy long practiced by restaurants: only open the doors when the bulk of customers want to come in.
For decades, restaurants have closed their doors during non-peak times of the day. If they’re busiest for dinner, they only open for dinner.
With the economy still slugging along, “occasional shops” are cropping up everywhere. These clothing and accessories boutiques are only open a few days a month.
Though shop owners admit customers complain their nontraditional hours are inconvenient, these stores have been enough of a hit that they continue to expand locations. However, most offer new merchandise every time they open to continue the novelty and attract customers.
Another common retail trend cropping up around the nation is what’s called a “temporary” or “pop-up” shop. These stores open usually once a year, such as during the holidays, as a way to bypass long-term leases or avoid expensive real estate.
These trends will be important for large retailers such as malls, which tend to force tenants to stay open during certain hours. The lease holders will need to be flexible with the retailers so they can make money. If not, they’ll close their store and move.
Source: TwinCities.com, June 2011
